[Wizard.]

I have been reading about something called Matched betting recently and it seems quite simple. I'm not a gambler but I do sometimes bet on reality show outcomes, and I have definitely lost more than what I have won. The way Matched Betting works is that you sign up to a bookies website and receive a free sign up offer from them, say £20. Then you also sign up to Betway Exchange. What you do is bet on a football match on the bookies website, you are betting for a team to win. Then on Betway Exchange you bet on the same time to lose, it's called "laying a bet". There are other factors involved like the odds have to be near identical, I don't fully understand it myself. But it is supposed to be a risk-free way of making money. Anyone else heard of it?